Pivotal Software Up 68%; In Talks With VMware
August 15 2019 - 10:29AM
Dow Jones News
By Michael Dabaie
Pivotal Software Inc. (PVTL) shares rose 68% to $13.91 in heavy
morning volume.
Cloud-native platform provider Pivotal said it is in discussions
with VMware Inc. (VMW) on a potential business combination. Pivotal
said it is negotiating agreements regarding a deal in which VMware
would acquire all of Pivotal's outstanding Class A common stock at
$15 a share cash
Dell Technologies Inc. (DELL) is the controlling stockholder for
both Pivotal and VMware.
VMware shares fell 7.4% to $141.72 in early trading. Shares of
Dell dropped 4% to $46.63.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
August 15, 2019 10:14 ET (14:14 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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